Quick Facts
FONT-SIZE Plus   Neg
Share SHARE

Roche Says Its $51 Per Share Offer For Illumina Is Full And Extremely Attractive

Swiss drugmaker Roche (RHHBY.PK) issued statement regarding its pending offer for Illumina, Inc. (ILMN: Quote).

Roche stated that it continues to believe that on the basis of the public information that has been available to the company, its offer price of $51 per share is full, fair and extremely attractive by every conceivable financial metric. Further, to date, Illumina has not provided any quantitative support for their aggressive growth assumptions. Roche also believes that their long term growth expectations are unrealistic and ignore the inherent and significant market and technology risks.

In late January, Roche began a tender offer to buy all shares of Illumina for $44.50 per share in cash. The offer was raised to $51.00 per share in cash on March 29.

Severin Schwan, chief executive officer of Roche Group, said, "As we have said earlier, if Illumina were to engage with us, we would consider any information supporting Illumina's contention that our offer undervalues the company and its prospects. However, because Illumina has refused to enter into negotiations with us, our current analysis is by necessity based solely on publicly available information, and that information does not justify a price in excess of $51 per share. Our goal has always been to enter into a negotiated transaction with Illumina and we firmly believe that our present offer is more than adequate to serve as a basis to begin that negotiation with Illumina."

Register
To receive FREE breaking news email alerts for Roche Holding AG and others in your portfolio

by RTT Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Quick Facts

Editors Pick
Texas Instruments Inc., the world's largest maker of analog chips, said Monday after the markets closed that its second quarter profit rose 3% from last year, as revenue increased 8%. The company's quarterly earnings per share also came in above analysts' expectations as did its quarterly revenue. At the same time, the company gave an upbeat outlook for the third quarter. After coming under pressure in early trading on Monday, stocks regained some ground over the course of the trading session but still closed modestly lower. The pullback on the day partly offset the strength that was seen last week. With his second term becoming increasingly dominated by turmoil overseas, President Barack Obama addressed both the conflict in Gaza and the Malaysia Airlines crash in Ukraine in remarks on Monday.
comments powered by Disqus
FREE Newsletters, Analysis & Alerts

 

Stay informed with our FREE daily Newsletters and real-time breaking News Alerts. Sign up to receive the latest information on business news, health, technology, biotech, market analysis, currency trading and more.